Is it time to bring back the mortgage prepayment penalty? Daily Journal
When the housing market collapsed in the early 2000s, new mortgage rules emerged to prevent a similar crisis in the future. The Dodd-Frank Act gave us both the ability-to-repay rule and the qualified mortgage rule (ATR/QM rule). The ATR requires creditors to “make a reasonable, good faith determination about a consumer’s ability to repay a … Read more